If you have thought of moving to the United States of America and are looking for a city which has a vibrant community, good companies to work for and a relatively lower cost of living, look no further than the city of Indianapolis, the state capital and most populous city of the U.S. state of Indiana and the seat of Marion County.
So your question will be why not New York City, San Francisco, Boston, Chicago etc.? Yes, these are great cities to live and work in, but through the course of this writing, I will make some valid points about why and how Indianapolis scores better than these cities in terms of overall quality of life. Then you can decide for yourself why you should choose Indianapolis as the city to live and work in.
A little background of Indianapolis
Indy was founded in 1821 as a transportation and manufacturing hub. Following the Civil War, Indianapolis grew quickly, becoming the world’s third-largest pork packing city and the second-largest railroad centre in the U.S. It also became home to 60 automakers, rivalling Detroit as the centre of the automotive manufacturing industry. With a population of around 855,000 people, it is the 15th largest city in the United States. The metropolitan area has more than 2 million residents, making Indianapolis (or Indy, for short) the economic and cultural centre of Indiana. But, Indy is more than ham and trains. The city is mostly known for its amateur sports. The city is not only home to the largest, single-day sporting event in the world, the Indianapolis 500, but the city also has one of the largest children’s museums in the country, the Children’s Museum of Indianapolis and features many other great museums and parks.
The people, culture and you
According to the residents of Indy, it is a very family-friendly place and has a growing millennial and gen Z population. Nearly 66% of the population in Indianapolis live in family households, and more than 35% of the residents are under the age of 25. Many of these families and young residents are attracted to the city’s low cost of living (will explain more about this later) and the job opportunities. There is a vibrant culture as people from different parts of the world come to live here. So one gets to hear a lot of foreign languages and taste a variety of cuisines. You will get to meet people from different faiths, culture and beliefs, exactly what you expect from a city for global residents.
A city with a vibrant job market
Although Indianapolis has a reputation of being the automotive powerhouse of the country, other industries have quickly gained pace. The healthcare and technology sector is among the major growing sectors in the city. Tourism and sports are the other two industries seeing significant traction and are expected to do well in the future. People who are employed in the healthcare and technology sector can see Indianapolis as a good alternative to other such tech hubs like Silicon Valley or New York. Due to its lower cost of living comparative to these cities and subsequently a better quality of life with comparable incomes, Indianapolis is a good option to start your healthcare or technology career. More than 90 national companies have headquarters in the city, including Eli Lilly and Company, Anthem Inc., Angie's List, RCI, Simon Property Group, Dow Agro Sciences, Finish Line and the NCAA. Which is a good thing if you’re looking for work. Indiana is one of the only Midwest states guaranteeing residents the right to work without the obligation to join a union.
Cost of Living
According to Forbes Magazine, the cost of living in Indianapolis is 7.6% below the national average making it a great place to both live and work. This is especially good for those who are just starting fresh out of college and may not be able to afford New York or San Francisco level rents in their first job. Houses are affordable and so are other services like restaurants etc. The average annual salary is $45,780, which is slightly lower than the U.S. average of $48,320. And the average rent price is a little over $800.
The average price of a studio apartment, a 1 bedroom, 2 bedroom and 3 bedroom apartments are all less than the national average. Thus one needs to pay less to have good accommodation in Indy and can save that money for other needs.
Indianapolis isn’t called “The Crossroads of America” for nothing. Several major interstates surround and intersect the city, allowing for easy access to road trip to other destinations in the Midwest.
The Indianapolis International Airport serves all major US airlines and flies to over 40 non-stop domestic destinations. In 2016, the airport received the highest satisfaction rating from customers for medium-sized airports by USA Today.
The city is on its way to becoming one of the greenest, most sustainable cities in the nation. While Uber and Lyft have dominated nationwide, Indianapolis is launching its own companies to promote ride-sharing and decrease dependency on owning cars. Companies like Blue Indy, a car rideshare program, make it easier for people to get around without having to own their cars.
IndyGo, the city’s public transportation system, can get you where you need to go throughout the city but has limited stops the further you travel from downtown. The city is working on expanding public transit, but for now, you may still need a car to get around if you live outside the downtown area.
A growing start-up hub
Indianapolis is fast becoming a start-up hub in the USA. Although it is still small compared to other hubs like Boston, San Francisco, still it is growing very fast. While five big markets — San Francisco, New York, Boston, San Jose, and Los Angeles — still accounted for 77 per cent of total capital invested into U.S. venture-backed companies in 2018, the city of Indianapolis has seen a higher compounded annual growth rate than these bigger hubs over the past five years, according to the National Venture Capital Association. In the third quarter of 2019, Indiana start-ups raised more than $76.5 million through investments in 13 companies and grants to five other companies, according to TechPoint’s VC Report. Seven Indiana tech companies were involved in mergers and acquisitions and 11 out-of-state VC firms took interest in Hoosier( a term meant for people of Indy) companies.
According to Robert Schuttler, Professor of business and economics at Marian University in Indianapolis, although Indiana’s economy is mainly run by the automotive, manufacturing, and agricultural industries, the state is still a diverse place that encourages entrepreneurship, particularly among the youth. “Over the past 10 years, I’ve seen a marked increase in entrepreneurship as a professional pursuit among students,” Schuttler says. “Indiana is certainly a good place for business creativity and development.”
The city owes its emergence as a tech hub to mainly three factors. First, the small innovation of massive significance: digital marketing; second, the emphasis is given to innovation and entrepreneurship by the state’s universities; and third, the state of Indiana’s business-friendly policies. Some of the start-ups to have emerged from the city of Indianapolis are ExactTarget, Delivra, Interactive Intelligence, Bluelock among others.
Among other investments, Indian It major Infosys has started its $35 million US education centre project in Indianapolis. It will be the training campus and residential centre for its staff as well as employees of select clients aim to prepare the American workforce for the technology jobs for the future. The company is providing an initial investment of $35 million to create the first 12,5000 sq feet for development to transform the 70.5-acre site at the old Indianapolis airport terminal into its innovative training centre. Infosys opened its first US technology and Innovation Hub in Indianapolis and with a plan to hire 2,000 to 3,000 employees from Indiana by the end of 2023. It is only safe to assume that other IT companies and technology firms will follow suit and make Indianapolis a hub for training their US workforce.
A city with its priorities right
Indianapolis and the state of Indiana, in general, are trying to change the perception of the state and the city by adhering to more business-friendly laws. The authorities want to promote business and are looking to bring businesses to the state. So if you are looking to start a business, Indianapolis could be a great city to start in.
Indiana’s business-friendly climate has sent the job market in Indianapolis skyrocketing, with the city ranking #16 on Glassdoor’s list of the top 25 cities for jobs
The Hoosier State offers numerous resources to the businesses, especially for small businesses as the State has 10 Small Business Development Centers such as the Indiana Chamber of Commerce, the Business Ownership Initiative, the Indiana Economic Development Corp., and more. On the other hand, various other organisations are working on supporting the local businesses in Indiana.
While starting a business in Indiana, there is a lot to celebrate— low taxes, affordable real estate, vibrant communities, and a well-established workforce. According to reports, the Hoosier State is one of the top ten business-tax friendly states in the nation. As per Tax Foundation, it claims the 2nd-lowest property tax rate in the U.S., in addition to the top 15-ranked corporate and individual tax rates.
The state of Indiana, for sure, is dedicated to making the business experience easier than ever. Indianapolis is one of the best places to start your business. It is equipped with young and educated graduates, inexpensive livelihood, and a great workforce environment compared to other American cities.
University of Indianapolis
If good education is what you seek, then the University of Indianapolis offers a great choice for graduate as well as postgraduate programs. The University of Indianapolis is ranked 227 among National universities. It offers Associate, Bachelor's, Master's, and Doctoral degrees. The University of Indianapolis is a private university situated on a 50-acre campus just outside of downtown Indianapolis. UIndy offers 100 undergraduate degree programme, 32 master’s degree programmes and five doctoral programmes. The university is particularly well known for its undergraduate degree programmes in communication, health sciences and teacher education. The university also has two Centers of Excellence in Aging and Community Studies and Leadership in Learning.
The courses at the University of Indianapolis are good value for money and cost less than studying in other universities with comparable rankings. Financial aid is provided to students.
Under the category of Best Colleges for Kinesiology and Physical Therapy in America, it is ranked 85 out of 564, in the category of Best Colleges for Sports Management in America, it is ranked 152 out of 413. The rankings are given by niche, which is a college ranking website that bases its rankings on rigorous analysis of key statistics from the U.S. Department of Education and millions of reviews. The University of Indianapolis provides scholarships for meritorious students and therefore significantly reduces the cost of education.
So now how does Indianapolis compare with other American cities? Do you feel you should move to Indianapolis? The decision to move to a city is not so simple and simply listing the pros and cons will not be enough. But I hope the points mentioned above makes it easier for you to decide whether to move to Indianapolis. Do reach out to us by commenting below.
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